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The Home Affordable Refinance Program (HARP) was created by the Federal Housing Finance Agency in March 2009 to allow those with a loan-to-value ratio exceeding 80% to refinance without also paying for mortgage insurance. Originally, only those with an LTV of 105% could qualify.

President Obama on Monday announced new measures to help borrowers refinance their existing mortgages to new loans with lower interest rates and cheaper monthly payments. The plan is an expansion.

. issued an executive order this week to expand a program easing student-loan payments. Obama also endorsed Warren’s bill, which would let 25 million borrowers with federal and private loans.

HARP Refinance: Loans For Underwater Homeowners. HARP is an acronym. It stands for Home Affordable Refinance Program. Sometimes called the "Obama Refi", the HARP program was launched in 2009.

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The new program eliminates the requirement that the loan must have been opened on or before May 31, 2009. Instead, the loan note date must be on or after October 1, 2017. This program is designed as a HARP replacement. As HARP gets repealed, then, this new high-LTV refinance will take its place.

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The current FHA-to-FHA streamlined refinance program allows FHA borrowers who are current on their mortgage to refinance into a new FHA-insured loan at today’s lower interest rates without requiring a full re-underwrite of the loan, thereby providing a simple way for borrowers to reduce their mortgage payments.

For Immediate Assistance Call 888-995-HOPE (4673) (Hearing impaired: 877-304-9709 TTY) Let an expert from a HUD-approved housing counseling agency help you understand your options, prepare your application, and work with your mortgage company.

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Obama Mortgage Refinancing Options.. The MHA site directs borrowers who need to refinance to the Home Affordable Refinance Program or HARP for short.. The new refinance offering will provide much-needed liquidity for borrowers who are current on their mortgage but are unable to refinance. DecideMoney | New Homeowner Program Offers Up To $3,120.

On monday october 24th, President Obama announced a new plan to make refinancing your mortgage a possibility, even if your mortgage is severely underwater. UPDATE: You can learn about the even NEWER PLAN here. The new refinance plan will bolster inclusion in the existing FHFA HARP Program.

The federal government’s Home Affordable Refinance program is designed to help homeowners refinance their mortgages even if they owe slightly more than the current value of their homes.

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